Amgen Inc. (NASDAQ:AMGN) Shares Purchased by Connable Office Inc.

Connable Office Inc. grew its holdings in Amgen Inc. (NASDAQ:AMGN) by 0.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 6,972 shares of the medical research company’s stock after buying an additional 37 shares during the quarter. Connable Office Inc.’s holdings in Amgen were worth $2,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of AMGN. Vanguard Group Inc. increased its position in shares of Amgen by 6.2% in the 1st quarter. Vanguard Group Inc. now owns 52,088,210 shares of the medical research company’s stock valued at $14,809,720,000 after purchasing an additional 3,045,657 shares during the last quarter. Capital International Investors boosted its position in Amgen by 547.8% during the first quarter. Capital International Investors now owns 7,005,269 shares of the medical research company’s stock worth $1,991,738,000 after purchasing an additional 5,923,915 shares in the last quarter. Pathway Financial Advisers LLC raised its position in shares of Amgen by 33,125.4% in the third quarter. Pathway Financial Advisers LLC now owns 4,460,181 shares of the medical research company’s stock valued at $1,437,115,000 after buying an additional 4,446,757 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Amgen by 6.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,701,631 shares of the medical research company’s stock worth $844,137,000 after acquiring an additional 162,223 shares during the period. Finally, International Assets Investment Management LLC lifted its stake in shares of Amgen by 6,812.4% during the 3rd quarter. International Assets Investment Management LLC now owns 2,523,387 shares of the medical research company’s stock worth $8,130,610,000 after purchasing an additional 2,486,882 shares during the period. 76.50% of the stock is owned by institutional investors and hedge funds.

Amgen Stock Down 1.8 %

NASDAQ AMGN opened at $295.93 on Friday. The stock has a market cap of $159.07 billion, a PE ratio of 37.89, a P/E/G ratio of 2.69 and a beta of 0.60. The business has a 50 day moving average price of $322.15 and a two-hundred day moving average price of $318.15. Amgen Inc. has a fifty-two week low of $260.52 and a fifty-two week high of $346.85. The company has a quick ratio of 0.96, a current ratio of 1.32 and a debt-to-equity ratio of 7.55.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Wednesday, October 30th. The medical research company reported $5.58 earnings per share for the quarter, beating analysts’ consensus estimates of $5.11 by $0.47. Amgen had a net margin of 13.00% and a return on equity of 168.35%. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.50 billion. During the same period last year, the business earned $4.96 EPS. The business’s revenue was up 23.2% on a year-over-year basis. As a group, sell-side analysts predict that Amgen Inc. will post 19.51 EPS for the current fiscal year.

Amgen Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 9th. Stockholders of record on Monday, November 18th will be given a dividend of $2.25 per share. This represents a $9.00 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, November 18th. Amgen’s payout ratio is 115.24%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on AMGN. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $362.00 price objective on shares of Amgen in a research report on Thursday, September 26th. Bank of America upped their price objective on shares of Amgen from $325.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised their target price on shares of Amgen from $300.00 to $315.00 and gave the stock an “equal weight” rating in a research report on Monday, October 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $405.00 price target on shares of Amgen in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $380.00 price target on shares of Amgen in a report on Tuesday. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, eleven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $333.57.

Amgen Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. The company's principal products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Prolia to treat postmenopausal women with osteoporosis; XGEVA for skeletal-related events prevention; Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization; Nplate for the treatment of patients with immune thrombocytopenia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; Aranesp to treat a lower-than-normal number of red blood cells and anemia; EVENITY for the treatment of osteoporosis in postmenopausal for men and women; Vectibix to treat patients with wild-type RAS metastatic colorectal cancer; BLINCYTO for the treatment of patients with acute lymphoblastic leukemia; TEPEZZA to treat thyroid eye disease; and KRYSTEXXA for the treatment of chronic refractory gout.